"We have some great businesses, world-leading technology, excellent research and development and some pioneering projects in the pipeline including the Marine Current Turbines with their Skerries Project and the Marine Power Systems project.

According to the Welsh Government, around 30% of the UK's energy supply is now coming via Pembrokeshire and is contributing over £2bn a year to the Treasury. Through its increasing importance to the energy supply, the Welsh Government is hailing the area as the 'New Energy Capital' of the UK.

"If the marine energy resource potential is to be exploited around the Welsh coastline, industry needs to rise to the challenge and capture the business opportunities that marine energy can bring," said Hart.